LG’s mobile division lost $126 million in the first quarter of 2018

The company is hoping to turn it around with the launch of the G7 next quarter

LG reported its first quarter 2018 financial results today, revealing a $126 million USD loss for its mobile division.

The manufacturer’s mobile business recorded total sales of just over $2 billion.

Last year in the same quarter the company’s mobile section only lost around $180,000, but at that time it also launched the G6, so it can be reasoned that the flagship helped lower losses in the mobile sector. LG had no such flagship launch this past quarter.

LG as a whole is still making a profit with its home appliance and air solution business making a profit of $515 million and its home entertainment company raking in $537 million.

The company is well aware that the “global smartphone market is forecasted to experience stagnant growth,” but it’s hoping that the launch of the G7 ThinQ and the opening of its ‘Software Upgrade Centre‘ will help it see positive results soon.

The Software Upgrade Centre is supposed to deliver higher-quality customer support by delivering better and faster software updates to its devices. The centre will also work on providing a consistent user experience across all of LG’s devices.